FOMC rate commitment will aid US recovery: NY Fed’s Dudley

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William Dudley, the president of the New York Federal Reserve, on Friday said the Federal Open Market Committee's (FOMC) decision to commit to keeping interest rates low until mid-2013 had eased market conditions.

On August 9, the FOMC said current economic conditions were likely to keep short-term interest rates exceptionally low at least through mid-2013.

At the Quarterly Regional Economic press briefing in New York, Dudley said following the release of the FOMC's statement: "Market interest

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